Template:M comp disc 2002 ISDA 5(a)(iii)

A bit of pedantic flannel found its way in to the 2002 ISDA — it captures not just the failure of the Credit Support Document itself, but any security interest granted under it, catering to the legal eagle’s most paranoid fears that a contractual right can have some sort of distinct ontological existence from the agreement which gives it breath and enforceable currency in the first place. But otherwise the same.